Utilization of foreign capital

Foreign direct investment in the province increased by 40.64 per cent in 2000 (see Table 7.19.4). The total number of contracts approved in the year was 4245, involving a total contracted investment of US$8.68 billion. 67.42 per cent of the approved contracts were for solely foreign-owned enterprises , while their contracted investment comprised 66.64 per cent of the total contracted investment.

Table 7.19.4: Utilization of foreign capital, Guangdong Province, 1995 and 2000

	Approved contracts			Actual utilization
Mode	Number	Total value (US$ million) year's total value	% change over previous year	Total value (US$ million) year's total value	% change over previous year
1995
Direct foreign investment:	8,177	24,832.44	4.23	10,180.28	8/33
Equity joint ventures	3,071	8,165.54		3,573.36
Contractual joint ventures	2,416	9,641.46		4,064.61
Solely foreign-owned enterprises	2,690	7,025.44		2,254.31
2000
Direct foreign investment:	4,245	8,683.93	40.64	12,237.2	0.28
Equity joint ventures	956	1,530.69	41.07	3,137.85	-23.17
Contractual joint ventures	426	1,312.93	-1.22	3,763.71	-2.97
Solely foreign-owned enterprises	2,862	5,787.05	54.42	5,280.16	26.40

Of the 4,245 newly approved foreign direct investment projects, over 80 per cent were intended for production- related projects. Foreign direct investment came from 50 countries and regions , among which Hong Kong was first in terms of aggregate contract value (see Table 7.19.5).

Table 7.19.5: Key sources of FDI, Guangdong Province

Source of FDI	No. of projects	Contract value (US$ million)
Hong Kong	2474	4122.19
British Virgin Islands	380	1816.92
Taiwan Province	482	483.54
Singapore	76	465.16
United States	193	443.89
Cayman Islands	26	205.78
Japan	51	196.08
Western Samoa	52	161.51
Macao	304	128.63
Republic of Korea	52	81.43
Australia	31	75.07
UK	18	71.58
Netherlands	14	59.48
France	7	56.70

By the end of 2000, the number of approved foreign- invested enterprises in the province had reached 83,800. In 2000, the total export value of foreign-invested enterprises was US$49.55 billion, accounting for 53.9 per cent of the total export value of the province.